Fitch lowers view of 10 Argentine government bodies

Fitch Ratings said it affirmed the B long-term foreign- and local-currency issuer default ratings on 10 local governments in Argentina.

Fitch also revised the outlooks on the governments to negative from stable.

The issuers include the city of Buenos Aires, province of Cordoba, province of Santa Fe, province of La Rioja, province of Neuquen, province of Salta, municipality of Cordoba, province of Chubut, province of Entre Rios and the province of Chaco.

The outlook revision corresponds with the revision of the Argentina's outlook, Fitch explained.

The ratings on these government bodies are capped by the sovereign rating, the agency said.

The ratings also reflect Argentina's vulnerable macroeconomic context and weak fiscal regime, Fitch said.

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